PayPal survey shows that retailers are beginning to focus more heavily on young consumers
Retailers are likely to focus more on young consumers in the coming years as mobile commerce becomes more prevalent. A recent survey from PayPal found that some 59% of smartphone shoppers are between the ages of 18 and 34. These consumers are also more likely to conduct their mobile shopping through an application rather than a mobile website. Apps are seen as more convenient by many consumers and they offer a better shopping experience.
Consumers have strong interested in NFC technology
The survey from PayPal found that 47% of consumers prefer to shop through apps rather than mobile browsers. Notably, those preferring to shop with their smartphones noted that the feature they are most interested in seeing in the future is the ability to tap a phone to a payment terminal to make a purchase. This may be good news for companies that are investing in NFC technology, which is used in the mobile commerce space to transmit digital information over short distances.
China is leading the way when it comes to mobile shopping
PayPal’s survey found that China is home to the largest mobile shopping population. Approximately 68% of Chinese consumers shop online, either from a mobile device or a computer. The United Arab Emirates and Turkey follow behind China, with healthy online shopping activity. The most commonly purchased product purchased by China’s mobile shoppers were leisure products. In the United States, consumers used their mobile devices to purchase food and drink more than any other product category.
Retailers are beginning to focus more on apps rather than mobile websites
While consumers reported that mobile-friendly websites would encourage them to shop more frequently, they still prefer applications. Apps are often seen as more secure and capable of meeting the needs of consumers. Retailers have been working to improve their mobile websites, but a growing number of these companies have begun relying on apps in order to effectively engage consumers. Some retailers are also beginning to develop their own mobile commerce apps, hoping to secure a new generation of mobile shoppers.
The country’s government has taken a keen interest in mobile commerce, believing that the mobile sector can lead to higher degrees of social and economic growth. The United Arab Emirates Ministry of Labor’s Wages Protection System allows workers to receive their salaries through prepaid cards and bank accounts that can be accessed by mobile devices. The UAE Bank Federation has also launched a new initiative called Mobile Wallet, which aims to make finances more mobile-centric than they had been in the past.